Baird Starts American Water (AWK) at Outperform
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Baird initiates coverage on American Water (NYSE: AWK) with a Outperform rating and a price target of $82.00.
Analyst Ben Kallo commented, "We believe the company should be able to drive consistent EPS growth through investments in water infrastructure, acquisitions in the regulated market, and growth in market-based segments. Additionally, we expect AWK to consistently increase its rate base through its broad geographical footprint. Although current water utility valuations are high based on historical multiples, we believe AWK is well positioned to remain a market leader, which should demand a premium multiple."
Shares of American Water closed at $71.76 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesRobert W Baird, Ben Kallo
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